Some of those things are going to depend on your DM, as far as milestone leveling vs. xp. Or which system you use for ability scores.

Variant human is one that lets you have a feat at 1st level.

Which languages you know (along wit favored enemies) and which will be useful will depend on your backstory and campaign world. They're really the sorts of things you would work with your DM about choosing. For example, if the world you're playing in doesn't have goblins in it, then picking them as a favored enemy would be a bad choice. On the other hand, if you are fighting them a lot, it becomes a better choice.

I think, overall, the best advice I could give you would be to read over the Player's Handbook section on character creation, that will spell out the basics better than we can really do on the forums. And maybe find a campaign to join that has DM who likes working with new players. Your DM should be able to help you make some of those decisions. 

Now, if you're just building out a character because its fun (and it is) the choices you have about things like languages won't matter. For ability scores, the easy one is probably standard array, but any of the other ones can be fun, as well.

The character builder shows information on things when you select them but I find it more helpful to read through other sources.

DnDBeyond has pretty much all the information you need, just on different pages. On the navigation bar under the logo/search bar, look for the "Game Rules" drop down menu. The two main things you're going to want to check out there are the races (large tile on the top right), and the classes (List on the left). You can view them all, or go right to Ranger if you know that's the class you want.

To address your specific questions:

XP or Milestone is up to your DM, so you should ask them.

Prerequisits should be turned on (unless your DM says otherwise). This is basically ability score/race requirements for certain features you get later (feats and multiclassing).

Human gets +1 to every ability score. Variant human only gets +1 to 2 ability scores but also gets a feat at level 1. Feats are like extra features you get, similar to race/class features. They vary in strength, and there are a lot of them.

The languages are basically what your character can speak. They are mostly a role play thing. You can pick whatever you want, but if you can't decide then I would recommend picking one that corresponds with a race your character would be around often. For example, if they are around a lot of elves, elven would make sense.

Favored enemy is like a creature type that your character focuses on hunting. If they are like a traditional hunter, hunting deer or bears or the like, then "beast" would be a good choice.
For humanoid, you get 2 humanoid races. For example, your character might frequently go into caves hunting goblins and kobolds, so they learn how to fight them better.

In terms of what system to use to determine your ability scores: This is also up to your DM, so you should ask them. To summarize each one:
Standard array: You get a specific set of numbers and can put them where you want them.
Manual: This is typically for rolling your scores. There are many ways to roll them so I would also ask your DM what dice to use. From what I know, the most popular is basically roll 4d6, then drop the lowest number.  Do this 6 times then put the numbers where you want them.
Point Buy: You have a certain amount of points to spend on your scores. Higher scores cost more for each point.

OP, you should read the rules first before diving into character creation.

Further more, you can build a character as you aee fit (for training reasons), but in the end you need to find a group to play with first, and then talk to your Dungeon Master about the details, thar work in his particular campaign. 

You don't need the PHB. Just read the Basic Rules, which are free. If the Basic Rules are all you have, that's all the options the builder is going to give you. If someone is content sharing and has the PHB, you have the PHB.

Also, if you have not bought the PHB through DND beyond a lot of stuff...i.e: feats,backgrounds, sub-classes are not available for free.

A Human Ranger/Hunter - you  would do well to choose variant human and choose sharpshooter feat but, you can not make those choices unless you own the player's handbook here on DND beyond.

Good luck on the move and finding a group.

I too like just coming up with character ideas. Keep on doing that here and you'll be an expert at it in no time.

If you are a DM, D&D can will likely take up a lot of your time. As a Player, if you are in one single game it takes up about one afternoon/evening per week, or maybe less if your group meets less frequently. So the time investment is really as much or little as you choose.